FINANCIAL STRUCTURE

New York is by far the most likely place for this project to succeed because of its cosmopolitan nature and iconic stature. At the same time, New York's high cost-of-living is by far the greatest practical challenge to the project. Several experts participated in the drafting of the financial plan.  Here is the summary of the plan with its six components:

Component 1:  Family Support Team

Care for basic expenses for one family moving to New York City will be provided by the Family Support Team members who are pledging their monthly support over an extended period of time (three to ten years). In ten years the giving will be phased out as Faith House takes full responsibility for its wellbeing and financial stability. 

Component 2:  Expenses for the Special Projects

These resources will allow for new and creative projects envisioned by the Faith House members, donors, and advisors working together. Some examples are: global audio/video/internet ministry, inner city projects supported by short term trips to New York, seed money for a Faith House in another city, publishing of materials/newsletters/books, interfaith events and ministries, etc.).

Component 3:  Real Estate Investments

We are looking for individual investors who would like to “do well by doing good”. A key challenge this ministry faces is New York City’s high cost of real estate. However, since residential property in Manhattan has historically represented an excellent medium- and long-term investment, a collaborative approach to this hurdle is compelling. Supportive investors can purchase a percentage of a residential apartment, office, or house and benefit from any medium- or long-term appreciation. After a pre-determined time period, the investor(s) will have the option of selling their interest in the property to Faith House or other investors at the then-current market price. (They would be free to sell their interest earlier, but without a Faith House guaranty.) Faith House would be responsible for all recurring expenses such as common charges, maintenance, and real estate taxes. Such a partnership would result in a profitable investment for the supporters and a material reduction in overhead for Faith House. 

Should you wish to explore a real estate investment with Faith House please contact investment consultant (and our treasurer) Rod Colburn (phone: 212-852-3725 or email: rod_colburn@ustrust.com).

Component 4:  Legacy Investments

We believe that Faith House is a spiritually relevant ministry of global significance that, with financial security, can grow and thrive over an extended period of time, helping pave the way to major shifts in the way people understand religion and practice their faith. To make such a difference, we are inviting visionary individuals with adequate resources to consider establishing tax-advantaged long-term support. Two general ways in which this can be done is through (a) endowments or (b) trusts. Endowments are lump-sum gifts to Faith House designed to generate consistent, recurring income to support its ministry. Trusts are highly-customizable vehicles which retain independence/control via designated trustees—but which can provide recurring income, lump-sum contributions, or both to assist Faith House in its ministry in New York and other cities.

Should you wish to consider a legacy investment in Faith House please contact investment consultant (and our treasurer) Rod Colburn (phone: 212-852-3725 or email: rod_colburn@ustrust.com).

Component 5:  Commitment to the Spiritual Community at Large

Faith House will maintain financial ties with larger organizations by giving 10% of its income to entities that support the vision and values of Faith House. For the first five years, the community formed through this ministry will contribute 2.5% of all offerings received to four religious entities and ask nothing in return (2.5% x 4 = 10% of offering). Each clergy will be allowed to designate which religious entity they wish to donate 2.5% to and the last 2.5% will be allocated by a joint decision made by all of the clergy together.  After five years, the distribution of this 10% of offerings received will be reassessed by all parties.  Giving to entities outside the community will continue at 10% for the life of the ministry.

Component 6:  Commitment to the Future

Giving by local community will include a half percent for new and innovative ministries other than Faith House. This percentage will increase every year by a half percent until it reaches 5 percent of offerings.  It will remain on that level for the life of the ministry.